Pakistan Inaugurates New SEZ, Strengthening Sino-Pak Economic Ties

Prime Minister Shehbaz Sharif inaugurated a special economic zone in Islamabad, developed by Chinese textile group Challenge Fashion. The zone aims to boost Pakistan’s economy by generating $400 million in exports. The collaboration under the China-Pakistan Economic Corridor highlights advancing bilateral ties and focus on industrial growth.

In a key move to bolster economic relations, Pakistan's Prime Minister Shehbaz Sharif on Friday inaugurated a special economic zone (SEZ) in Islamabad. The project, executed by the Chinese textile group Challenge Fashion Private Limited, is expected to generate an impressive USD 400 million in exports.

Challenge Fashion Private Limited has committed to investing USD 100 million in this initiative over the next five years. Sharif emphasized that the SEZ would promote technology transfer, skill development, and sustainable industrial expansion, aligning with goals under the China-Pakistan Economic Corridor (CPEC).

Reflecting on the strong economic alliance between China and Pakistan, the prime minister expressed a desire to establish additional units nationwide. A China-Pakistan Business-to-Business Conference is set to enhance collaborations further. Huwang Weiguo, chairman of Challenge Fashion, praised Pakistan's conducive investment climate.

(With inputs from agencies.)